Adidas and STEPN Collaborate to Launch NFT Collection
Adidas and blockchain platform Stepn have joined forces to introduce a groundbreaking collaboration in the form of non-fungible tokens (NFTs). This partnership aims to revolutionize move-to-earn applications and facilitate the global implementation of the Find Satoshi Lab (FSL) ecosystem. As part of this venture, the project team will release a collection of 1000 unique STEPN x Adidas Genesis NFTs.
The NFT collection is scheduled to be launched on April 17 on the MOOAR marketplace. In an interview with Forbes, STEPN CEO Shiti Manghani highlighted that the integration will extend to both brands’ apps, incorporating “product level collaboration to motivate and incentivize people for running.”
The project’s native token, GMT, demonstrated moderate growth in response to the Adidas partnership announcement. As of the time of writing, it was trading at nearly $0.26 with gains, according to CoinMarketCap. However, despite this recent increase, the token is still 93% below its all-time high in April 2022, when GMT reached a price of $4.11.
Earlier, the STEPN team revealed plans for the FSL points airdrop, whereby the number of points distributed will be based on the duration of ownership of digital Genesis sneakers. There will be three levels: individuals who have owned the sneakers for over 24 months will receive the highest number of points, followed by the second level (12-24 months) and the third level (6-12 months).
Source: CoinMarketCap
In related news, STEPN’s GMT token experienced a 10% drop amid reports of an alleged token sale by Binance Labs. Stay updated by following us on Google News.
